The University of New Mexico

NEWS RELEASE

 


Media Contacts: Sophie Martin, (505) 710-9325, martin@mgt.unm.edu
Steve Carr, (505) 277-1821, scarr@unm.edu

April 11, 2006

UNM Students Take Home $25,000 in University-wide Technology Business Plan Competition

After months of sweating the details and despite the heavy load of classes associated with being a full-time student, 17 teams presented recently at the University of New Mexico's first Technology Business Plan Competition.

A ‘Who's Who' of New Mexico venture capitalists, including VSpring's Paul Ahlstrom, Verge's Ray Radosevich, and New Mexico Community Capital's Jarratt Applewhite, whittled that group of 17 down to six finalist teams and then awarded first, second and third place prizes worth more than $40,000 to the top three teams.

Satyrne Biotechnologies, a company focused on cranio maxillofacial surgery products and simulation software, took home the Michael Gallegos Prize for Entrepreneurship, totaling $25,000 and accompanied by $2,500 in services from accounting firm Grant Thornton. Team members Ryan Smith and Scott Lovald are graduate students at UNM; Smith in management at the Anderson Schools and Lovald in manufacturing engineering.

The Mirror Image Technologies project, which provides a business plan for organocatalyst pharmaceutical production, won the Technology Venture Capital/Lockheed Martin-sponsored second prize of $10,000. The business plan was produced and presented by Ph.D. chemistry student and Anderson MBA grad Ben Njus.

The HealthOne team won the Honeywell-sponsored third prize of $5,000. Anderson Schools MBA candidate Pranav Patel presented for his team their plan to provide banking services to the healthcare industry.

 


The University of New Mexico is the state's largest university, serving more than 32,000 students. UNM is home to the state's only schools of law, medicine, pharmacy and architecture and operates New Mexico's only academic health center. UNM is noted for comprehensive undergraduate programs and research that benefits the state and the nation.

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